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CBRE Vietnam Real Estate Spotlight – W1 2018

GS25 Vietnam to open doors this month, The most expensive road built project in Hanoi approved, Top 3 industries gain highest profitability rates in 2017, VN-Index breaks 1,000 point level, …

 

 

Laguna Lang Co to receive casino add-on by 2021
Vietnam Investment Review

The Ministry of Planning and Investment (MPI) has proposed the prime minister to permit to adjust the capital added to Laguna Lang Co from $175 to $300 million, increasing the project’s total investment capital from $874 million to $2 billion and open a casino while adjusting the duration of building the project (including the casino and other stages). The investor plans to develop and take the casino into operation by 2021 and add 6 five-star hotels and more than 2,200 villas and apartments. If approved, Laguna Lang Co will contribute $245 million to the province’s budget each year from 2021. These figures will increase four times by 2029.
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VN-Index breaks 1,000 point level
Vietnamnet

The VN-Index broke the 1,000-point threshold on January 3, closing up 0.99%  at 1,005.67 points, despite increasing profit-taking pressure towards the end of the session.This was the highest level since November 9, 2007. Over 237 million shares worth 6.34 trillion VND (278 million USD) were traded on HCM City’s exchange, of which trade in the VN30 stocks made up nearly 60% of total trading value, worth 3.55 trillion VND. Foreign investors ended January 3 as net buyers again with net value of 254 billion VND, lifting the two-day net buying value to 544 billion VND in the two markets.
 

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Construction of new FPT Tower in Hanoi underway
Vietnam Economic Times

FPT has kicked off construction of the 100,000 sq m FPT Tower in Hanoi’s Cau Giay district providing workplaces for about 9,000 people in the IT industry. This is FPT’s 14th office complex and campus and also the largest construction by the group to date. It comprises 21-story and 17-story buildings and an eight-story modern data center. FPT is expected to commence construction of three more office complexes, including the FPT Software Village (F-Ville) Phase 3 at the Hoa Lac High Tech Park in Hanoi (expected to start in the first quarter of 2018), the F-Town Building 3 at a High-Tech Park in District 9, Ho Chi Minh City (expected to start construction in the first quarter of 2018), and FPT University in Da Nang.
 

 

Newly and additionally registered capital of FDI up 45%
Hanoi Times

According to the Foreign Investment Agency of the Ministry of Planning & Investment, as of December 20, Vietnam has 2,591 newly approved projects with total registered capital of 21.27 billion USD, up 42.3% compared to the last year’s figure. There are 115 countries and regions investing in Vietnam, with Japan in the first place with total investment fund of 9.11 billion USD, contributing to 25.4% of total investment. Korea is in the second place with total registered capital of 8.49 billion USD, contributing to 23.7%; Singapore is in third place with total registered capital 5.3 billion USD, contributing to 14.8%.
 

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Top 3 industries gain highest profitability rates in 2017
Vietnamnet

Finance-banking, real estate-construction and consumer goods are three industries that gain the highest profitability in the securities market in 2017. The capitalization value was equal to 65% of GDP in 2017, an increase of 35% y-o-y. The liquidity was also double that of last year, while foreign investors were active in net buying with total indirect investment rising by 47% from the beginning of this year. Its statistics showed that in the first 11 months of the year, foreign net buying was US$1.77 billion, six times higher than the same period last year. The market capitalization of foreign investors’ portfolio was estimated at $32.5 billion, increasing by 59% from last year. This is clear evidence on the attractiveness of the local stock market in 2018.

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Sojitz Corporation targets Vung Tau Airport relocation project
Vietnam Investment Review

Vung Tau Airport covers an area of 172 ha in the centre of Vung Tau city. However, after considering the airport’s effect on the city’s space development plan and the flights’ threat to the lives of the locals, provincial authorities agreed to relocate the airport to Go Gang Island. The cost for building a new airport was expected to be over $1 billion.  The airport hosts helicopter flights to serve oil exploration and exploitation activities at sea with a capacity of 100,000 passengers and 500 tonnes of cargo per year. 

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Lotte comes out with new retail model in Vietnam
Vietnam Investment Review

Lotte is expanding its retail footprint in Vietnam with supermarket chains, department stores, e-commerce, and most recently, duty free stores. After its first duty free store opening in Danang Internation Airport on May 8 last year, it is going to open the second one in Cam Ranh airport in April 2018.  As a major duty free operator in the central international airport, LDF breaks its own records every month and expects to reach $11 million sales in 2017. 2017 was a successful year for Lotte Vietnam. In particular, Lotte Mart Vietnam had an excellent performance with a sales growth of 20%. 
 

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HCMC to invest VND29 trillion in public projects
The Saigon Times

The government of HCMC will spend VND29 trillion on public investment projects in the first few months of this year. Of the amount, VND4.88 trillion will come from official development assistance loans, VND2.52 trillion from the city budget as reciprocal capital for ODA-funded projects, and VND540 billion from the city budget for public-private partnership (PPP) projects. The mission is to develop HCMC into a smart city in the 2017-2020 period with a vision towards 2025 to better serve residents and enterprises. 

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The most expensive road built project in Hanoi approved
Hanoi Times

Deputy Prime Minister Trinh Dinh Dung has just approved the Belt Road 1 construction project at the Hoang Cau–Voi Phuc intersection. The road is designed to be 2.2 kilometres with a total area of about 153,341 square metres including two flyovers. The project will cost VND 7.7 trillion (US$339 million), which becomes the most expensive road built so far with a cost of nearly USD150,000 per metre. The project will be carried out between 2017 – 2020 with US$80 million coming from the city budget and other sources of capital.
        
 

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Five projects that could ease HCMC's traffic congestion in 2018
VnExpress

These infrastructure projects are scheduled to complete this year and help the city traffic become more bearable: Thu Thiem Bridge 2 with a total investment of nearly VND4.26 trillion ($188 million), 4 major roads in Thu Thiem New Urban Area with a total investment of over VND12 trillion, the VND840 billion My Thuy Intersection, the VND514 billion project An Suong Tunnel  includes 2 tunnels separating vehicles traveling in opposite directions, Nguyen Thai Son Intersection Overpass has a total investment of VND504 billion and aims to ease congestion on streets around Tan Son Nhat International Airport.
        

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GS25 Vietnam to open doors this month
Inside Retail Asia

Convenience store GS25 will open its first store in Ho Chi Minh city after its parent company GS Retail signed a JV agreement with Vietnam's Son Kim group to open 2500 GS25 Vietnam stores in next 10 years. After its first launch in Vietnam, GS Retail plans to expand to other markets.
        

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CBRE Newspaper Updates on Residential Ads

       

  • No new launch
  • Advertisements:

    • Flora Mizuki (Binh Chanh District)

      • Total units: 576 (for condos only)
      • Scale: two 20-floor blocks
      • Unit size: 56 – 98 sm (2 – 3 bedrooms)
      • Price*: from VND 1.5 billion/2BRs
    • Ascent Lakeside (District 7) 

      • Total units: 144 (for condos only)
      • Scale: one 23-floor block
      • Unit size: 60.24 – 123.29 sm (1 – 3 bedrooms)
      • Price*: from VND 38 million/sm
    • Dream Home Riverside (District 8)

      • Total units: 2000 (for condos only)
      • Scale: six 25-floor blocks
      • Unit size: 56 – 75.12 sm (2 – 3 bedrooms)
      • Price*: from VND 19 million/sm

* Prices included VAT

       

  • One new launched

    •   Grand Park Premium – Ecopark (Hung Yen)

      • Total units: 124 units
      • Unit size: 46 – 200 sm (1 – 3 bedrooms)
      • Price*: from VND 26 million psm
  • Advertisement

    • Manhattan Tower (Thanh Xuan district)

      • Total units: 327 units
      • Scale: 3,948 sm land area
      • Unit size: 62.1 – 428.2 sm (1 – 3 bedrooms)
      • Price*: from VND 30 million psm
    • Khai Son Hill – Villas (Long Bien district)

      • Total units: 66 units
      • Scale: 20,000 sm land area
      • Unit size: 160 – 482 sm (3 – 4 bedrooms)
      • Price*: from VND 60 million psm
    • Lieu Giai Tower (Ba Dinh district)

      • Total units: 160 units
      • Scale: 2,616 sm land area
      • Unit size: 63 – 170 sm (2 – 5 bedrooms)
      • Price*: from VND 50 million psm

* Prices included VAT
 

Note: Selected newspapers include Dau Tu Bat Dong San, Thoi bao kinh te Vietnam, The gioi thong tin bat dong san, CafeF, Tap chi dau tu bat dong san, Vietnamnet, Thi truong Bat dong san & Tai san, Nguoi dua tin, Vnexpress

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FOR MORE INFORMATION,CONTACT:

Dung Duong MRICS

Director

T +84 8 3824 6125

dung.duong@cbre.com

 

An Nguyen
Director

T +84 4 2220 0220

an.nguyen@cbre.com

 

 

CBRE | CB RICHARD ELLIS